I don't want to touch any DOW long right now. The triple, quadruple new interim top came in today. Orange tickers, new high's, take the money long on it and run for now. Maybe I'm wrong and 14,500 is next but my money is on 13,500 in 2 weeks. Besides, I hate October but good start for long and forever longs. 15% correction from here till the end of year. Looked like forced covering today like in July at that top.
Thats a nice pipe dream but bonuses are right around the corner. A suitcase nuke could take out Times Square on Dec 30 and the Dow would close higher for the day. Those Hamptons houses arent goign to just sit empty next year....
Yeah, I agree. Always looking through the rear view mirror. More like being scared of the unknown, but acting like they know the future.
I love the doomsday predictions. So many seem to be waiting and looking for bubbles to burst and become rich playing the crash that might never come. Bubbles and huge crashes are historically very rare events. They do and will happen once in a blue moon but to plan and actively look for them every day in order to profit from those overnight apocalyptic events - intellectual bookmarts like Taleb might say otherwise - is not a winning strategy IMO.
Its like playing the lottery. Or using conditional probabilities to predict trend changes. What many contra-trend scalps never realize is that an object in motion tends to remain in motion until something with enough power or force stops it. Or, put another way, the trend is your friend, until it bends at the end.